The building cost index, compiled in the middle of May 2020, is 147.6 points (December 2009=100), 2.8% lower than in the previous month. The prices of imported materials increased by 1.6% (effect on the index 0.3%). Labour cost decreased by 8.6% (-3,1%) due to a recent Act no. 25/2020 regarding temporary actions to counteract negative economic effects due to the coronavirus pandemic (Covid-19). The act raises the reimbursement of value added tax for labour cost for residential constructions to 100%.
In the last twelve months the building cost index has increased by 1.2%. The index applies to June 2020.